Just the Peaks

This newsletter, at a glance

  • An office building recently leased 40% faster thanks to smart glass windows
  • Realtors say today’s renters place natural lighting at the top of their wish lists
  • How to achieve higher rents and better views for your commercial property

Modern day business tenants say: “Give us a good view!”
Discover all the advantages of great windows and lighting

The city of Cottonwood Heights, Utah is home to the offices of Dyno Bel, an explosives manufacturer, and JetBlue, the popular airline giant. But this year, the little-known locale made a name for itself in commercial real estate with the debut of Cornerstone II.

At first glance, the 107,227 sq/ft property looks like any other contemporary Class-A office building. Sleek lines, eye-catching stonework, and sprawling glass windows overlook a beautiful mountainside view. Though it’s located 20 minutes outside of Salt Lake City, Cornerstone II leased almost to capacity before construction even finished.

So, what’s the big deal?

Industry insiders are buzzing because the property leased 40% faster than a nearly identical building, the original Cornerstone, which sits right next door. Did the success of its predecessor drive interest in the new commercial space? Or is there more to this story?

Let there be light

Jeff Gochnour serves as head of development at Cottonwood Partners, the firm behind Cornerstones I and II. “We got the building leased very quickly, mostly before it was even complete,” he said. “We’d like to attribute that to View glass in part. People love the design of these buildings.”

By upgrading to smart windows, the team managed to not only lead a highly successful preleasing campaign. They were also able to secure rents on par with similar Class-A buildings located in Salt Lake City’s highly desirable downtown area—something the original Cornerstone did not.

Owners are finally realizing the power of ‘good lighting.’ Whether it’s bigger windows, greater sun exposure, or the latest smart glass innovation, this once dubious investment is now worth it. In fact, the glass used in Cornerstone II known as View claims to improve tenants’ health and productivity, increase overall property value, and reduce energy consumption. These special windows adapt to ambient lighting, eliminating the need for traditional blinds. They also help maximize daylight and reduce glare.

Office workers report reduced drowsiness, eyestrain, and headaches. Meanwhile, business owners and landlords are loving the higher rents and amazing energy savings.

Some light research

6.1%                 Rent increase realized by corporate landlords for offices with lots of light

51%                  Reduced eyestrain experienced by tenants working in optimal daylight

63%                  Fewer headaches felt by people working in an environment with smart glass

59%                  Estimated NYC windows that are covered by blinds at any given time of day

For more lighting facts, visit Bisnow and View

Light on cash? We’ve got a solution

While View technology is super appealing, this upgrade may not be possible for all commercial landlords—especially those working with Class B and C office spaces.

Check out these 5 tips for increasing your building’s lighting situation on a budget.

  • Use lighter, brighter wall and ceiling paints. By choosing colors with higher light reflectance value (LRV), you reflect more natural light without ever touching the windows. Experts say the absolute best reflective color is obviously white—but similar hues will do. Also, choose a matte finish, which helps reduce glare.

 

  • Bring more mirrors into the space. Reflective surfaces help maximize natural lighting and disperse illumination throughout the room. Consider an all-mirror accent wall, which also gives the illusion of greater space. Or, for a less permanent solution, decorate offices with store-bought hanging or mounted mirrors.

 

  • Paint exterior eaves white. If you’re trying to improve lighting in a multifamily apartment building or smaller structure, you may be able to utilize the roof. Look through your windows to the outside, and see if an overhang exists. If so, paint the eaves white to boost light reflection. And don’t worry—exterior colors won’t clash.

 

  • Use reflective tiles on accent walls. Many commercial lobbies, waiting rooms, and office spaces have small decorative touches. Maybe it’s a fireplace, water feature, or similar installation. To address lack of lighting, pick out some metallic or high-gloss tile for your next reno project. They’re great for diffusing light.

 

  • Replace blinds with shades or curtains. Introducing fabric drapery may seem old-fashioned. But nowadays, it’s hot, hot, hot! More and more homeowners consider blinds an eyesore—and so do commercial renters. Although they serve a purpose, full-coverage shades are just as effective without blocking precious light.

Everest says: don’t miss your window of opportunity